Touchstone Exploration Inc Stock Forecast
Touchstone Exploration Inc stock price ended at £38.75 on Thursday, after losing 1.27%.
(Updated on May 02, 2024)
The Touchstone Exploration Inc stock price fell by -1.27% on the last day (Thursday, 2nd May 2024) from £39.25 to £38.75. During the last trading day the stock fluctuated 2.33% from a day low at £38.60 to a day high of £39.50. The price has fallen in 5 of the last 10 days and is down by -10.92% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -1 million shares and in total, 477 thousand shares were bought and sold for approximately £18.49 million.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -14.91% during the next 3 months and, with a 90% probability hold a price between £28.10 and £39.39 at the end of this 3-month period.
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TXP.L Signals & Forecast
Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Touchstone Exploration Inc stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at £40.96 and £46.22. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, February 08, 2024, and so far it has fallen -28.24%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Touchstone Exploration Inc stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved £0.90 between high and low, or 2.33%. For the last week, the stock has had daily average volatility of 5.19%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (TXP.L) For The Upcoming Trading Day Of Friday 3rd
For the upcoming trading day on Friday, 3rd we expect Touchstone Exploration Inc to open at £38.95, and during the day (based on 14 day Average True Range), to move between £36.88 and £40.62, which gives a possible trading interval of +/-£1.87 (+/-4.84%) up or down from last closing price. If Touchstone Exploration Inc takes out the full calculated possible swing range there will be an estimated 9.68% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ £39.25, some £0.500 (1.29%) from the current price of £38.75, our system finds the risk reward not very attractive.
Earnings coming up
Touchstone Exploration Inc will release earnings BMO on Friday, May 10, 2024. We will update the financials statements for Touchstone Exploration Inc, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 8.48% in the first trading day after earnings release.
Is Touchstone Exploration Inc stock A Buy?
Touchstone Exploration Inc holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -6.115 Strong Sell Candidate Unchanged
Predicted Opening Price for Touchstone Exploration Inc of Friday, May 3, 2024
| Fair opening price May 3, 2024 | Current price |
|---|---|
| £38.95 ( 0.516%) | £38.75 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for TXP.L
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 39.85 | 2.84 % | |
| R2 | 39.51 | 1.95 % | ||
| R1 | 39.29 | 1.40 % | ||
| Current price: | 38.75 | |||
| Support | S1 | 38.61 | -0.371 % | |
| S2 | 38.39 | -0.92 % | ||
| S3 | 38.05 | -1.81 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 48.00 | 23.87 % | |
| R2 | 45.00 | 16.13 % | ||
| R1 | 39.25 | 1.29 % | ||
| Current price | 38.75 | |||
| Support | S1 | 0 | . | |
| S2 | 0 | . | ||
| S3 | 0 | . |
FAQ
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